Cooper Energy has announced that the Casino Henry Joint Venture has signed a new gas sales agreement with Origin Energy Retail Limited.
The new agreement provides for supply from the joint venture to Origin Energy from 1 January 2019 to 1 January 2020 at current market prices. The joint venture has also entered into a new agreement with Lochard Energy for processing at the Iona Gas Plant for a minimum of one year and a maximum of three years to support a smooth transition to the Minerva Gas Plant in due course.
Cooper Energy managing sirector, David Maxwell said the new gas sales agreement, which was negotiated after a competitive tender, was the sixth term gas contract Cooper Energy had written in the past three years.
“We are pleased to be contributing to the supply of gas for south-east Australian energy users and expect this contribution will lift in coming years. We are also planning to increase our investment in bringing more gas to market, through further development of the Henry gas field and in exploration for new gas fields that can be brought online rapidly,” said Mr Maxwell.
The Casino Henry Joint Venture comprises Cooper Energy (50%) and Operator, Mitsui E&P Australia Limited (25%) and Peedamullah Petroleum Pty Ltd (25%)).